You may not realize it, but there are a lot of positions being filled for veterinarian jobs in New Jersey and the associated staff openings. Because of this, now may be a perfect time for selling your practice. Why? Whether you have been thinking of an exit strategy or not, there are plenty of benefits when taking this route. Vet’s Best Friend wants you to be informed on all of the details!
How to Sell Your Practice
Traditionally, veterinary practices are locally owned and operated business entities. However, the market is ever-changing, and you may have noticed quite a bit of significant consolidation. Understanding investments is a big part of the process and also a major driving force for consolidations. There are trusted investment groups that have been undergoing the process of veterinary practice acquisition. Many of these companies backed by private investors have also become platforms proactively seeking to take on more veterinarian jobs in New Jersey.
Why Are Firms Like Vet’s Best Friend Purchasing Veterinary Practices?
This is a large, fragmented market that offers the potential for substantial opportunities for consolidation. Did you know that this US market is estimated at $40 billion? There are roughly 28,000 veterinary hospitals and clinics located throughout the country, with about 90% being independently owned.
Veterinary practices are part of a growing, predictable business model. You have repeat revenue; people sense pets like family, which correlates to recession resistance and demand when looking at pet health care. This is essential healthcare for pets without any reimbursement risk involved.
Before looking into a veterinary practice sale, you should also know that there are many perceived competitive advantages in scale and size. You have increased access to specialized care and veterinary technology and higher efficiency in terms of office management.
A Veterinary Practice Sale – Is the Time Right for You?
Vet’s Best Friend is available to talk with you and go over the process. Our investment team has been through many transactions, and we have a detailed understanding of the merger and acquisition process. We understand valuation, structuring, accounting, tax issues, and everything else you may be concerned with. It is also important to note that we also have solid relationships with a range of private equity and investment banking firms in the field.
If you have a small veterinary practice and want to be on a level playing field with the larger players, we would love to talk with you. When you know it is time to advance and take a look at increased buying power, back-office systems, enhanced technology, and filling veterinary jobs in New Jersey with marketing and recruiting, we are here to help! Vet’s Best Friend makes it so that you can move into a new chapter in your field with all of the support you need to achieve success. People love taking care of their pets, you love taking care of your clients, and we want to help you along the way. Give us a call at (617) 987-4910 for more information!